The popularity of SMSFs continues to grow. However, taking on the role of trustee means there are responsibilities you must act on. If you don’t, you risk your fund being non-compliant or may suffer terrible consequences for your estate.
The Federal Government has just handed down their 2021-2022 Budget. It’s all about spending, promoting economic growth and jobs in its fight against the pandemic.
We all want to build wealth so we can live the life we want. We also want a home, however, it comes with a large mortgage. Here are some tips which will not only make a significant difference to paying off that mortgage quickly, but also will enable you to build up an investment portfolio now!
Recent legislation allows for 'carried-forward' concessional contributions, which enables those who qualify to carry over up to 5 years of unused concessional contributions over a rolling 5 year period.
Many people, including advisers and accountants, were unaware of a relatively new part of legislation which allows those 65 years old who meet certain eligibility requirements, to choose to make a 'downsizer' contribution into superannuation of up to $300,000 for each person from the proceeds of the sale of their home.
While it’s difficult to find any real positives during COVID-19, as a result of the quarantine requirements forcing so many people to work from home the ATO has introduced a new shortcut method for calculating related tax deductions
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